USD – The dollar weakened on Monday, with USDJPY falling to its lowest level since mid-June as investors weighed the likelihood that the Federal Reserve will not raise interest rates as aggressively as some has previously expected.
Commenting on USD’s outlook, Global Forex notes: “It’s the beginning of a new month, and the real focus is on the possibility that the Fed slows down its rate hikes. The big focus is on the jobs market at the end of the week, and that’s likely to confirm that the improvement in the labour market is moderating. But pre-COVID, it would still be regarded as a very robust number. After a big move, I think we’re really consolidating.”
Commenting on USD’s outlook, Global Forex notes: “It’s the beginning of a new month, and the real focus is on the possibility that the Fed slows down its rate hikes. The big focus is on the jobs market at the end of the week, and that’s likely to confirm that the improvement in the labour market is moderating. But pre-COVID, it would still be regarded as a very robust number. After a big move, I think we’re really consolidating.”